Shares of Dallas-based RSP Permian rose 3 percent on the energy producer’s first day as a public company.The independent oil and natural gas company’s stock (ticker: RSPP) gained 65 cents to close at $20.15 as 12 million shares traded hands Friday on the New York Stock Exchange. At that price, the company has market capitalization of more than $1.4 billion.The offering of 20 million shares raised $390 million. RSP Permian sold about 9.2 million shares and will repay a term loan with proceeds as well as compensate existing investors and employees. Existing stockholders sold 10.8 million shares.The company says it focuses on acquiring and developing unconventional oil and liquids-rich natural gas reserves in West Texas’ Permian Basin. It is backed by Irving-based Natural Gas Partners, which also is backing Rice Energy, a Pennsylvania producer scheduled to go public next week.
Jim Fuquay, 817-390-7552 Twitter: @jimfuquay